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Frisco Real Estate Stats & Frisco Home Sales

by Christie Cannon

How are homes selling in your city? Find the latest Dallas Housing Stats & Market News at www.DFWHomeTrends.com

 SEP-12 Quick Facts:  

  • The Average price of existing single-family homes increased to $208,238 up +10% vs 2011.
  • Existing single-family home sales increased +10% from 2011 for a total of 6,103 sold units.
  • Condos increased in price to $186,457 up +25.0% vs 2011.
  • Existing condo sales increased +7% in Sep-12 over 2011 for a total of 361 sold units. 

 Frisco at a Glance:  

  • The Average price of existing single-family homes $302,339 - increased +5% vs 2011. 
  • Existing single-family home sales increased +17% from 2011.
  • CURRENT INVENTORY is at a 3 Month Supply - this is a 36% decrease from last year!

Specific Sales & Housing Stats with City breakdowns available here:  www.DFWHomeTrends.com

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 Search homes (including foreclosures) in the North TX MLS at www.CannonMLS.com or www.ChristieCannon.com.  Recent changes even allow you to search by map locations!

New Builder Inventories can also be found here New Home & Builder Inventory

Once again, I am beginning to see confusion related to the 3.8% real estate tax enacted with the Health Care Reform Act in 2010.   This is a complex tax with many misconceptions. Below is a general summary of key points of the tax:

  • It is important to note that this tax will not be imposed on all sales, there are conditions that must be met.
  • This is NOT a transfer tax.
  • When the legislation becomes effective, it may impose a 3.8% tax on some income from interest, dividends, rents, and capital gains.
  • As is, the tax will fall on individuals with an adjusted gross income (AGI) above $200,000 and couples filing a joint return with more than $250,000 AGI.
  • The new tax does NOT eliminate the benefits of the $250,000/$500,000 exclusion on the sale of a principal residence. Thus, ONLY that portion of a profit above $250,000 / $500.000 on a principal residence may be subject to the tax.
  • The National Association of Realtors has prepared a Worksheet to help you better understand the implications of this tax.

Additional information can be found courtesy of the National Association of Realtors at: The 3.8% Tax & Health Care - or - The NAR's www.houselogic.com

* Again this is a complex tax AND many other tax related factors may affect your situation!  Please consult your CPA or Tax Professional for how this may affect you & your family! 

 

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Christie Cannon
Keller Williams Realty
4783 Preston Road #300
Frisco TX 75034
469-951-9588
972-215-7747
Fax: 214-853-4774

Keller Williams Frisco - Christie Cannon - http://www.christiecannon.com